Avery Dennison Co. (NYSE:AVY) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. reduced its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 17.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 239,455 shares of the industrial products company's stock after selling 51,078 shares during the period. Bowen Hanes & Co. Inc. owned approximately 0.30% of Avery Dennison worth $44,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Finance LLC boosted its position in Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company's stock worth $623,000 after purchasing an additional 55 shares in the last quarter. Greenleaf Trust grew its stake in Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after buying an additional 58 shares in the last quarter. Lindenwold Advisors INC boosted its holdings in Avery Dennison by 0.6% in the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company's stock worth $2,266,000 after buying an additional 59 shares during the last quarter. Finally, Cynosure Group LLC increased its stake in Avery Dennison by 3.6% during the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company's stock worth $378,000 after buying an additional 59 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have weighed in on AVY. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Bank of America lowered their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. UBS Group decreased their target price on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Finally, Citigroup dropped their price target on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Avery Dennison Price Performance

Avery Dennison stock traded up $1.03 during mid-day trading on Monday, hitting $179.67. 497,399 shares of the company were exchanged, compared to its average volume of 505,789. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48. The company has a market capitalization of $14.19 billion, a P/E ratio of 20.60, a PEG ratio of 2.07 and a beta of 0.85. The business's 50 day simple moving average is $185.49 and its two-hundred day simple moving average is $199.38. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.